Download apartment WS

Name _____________________________
Ms. Sameroff
Date ______________
College and Careers
Objectives:
SWBAT define Landlord, Tenant, Security Deposit, and Rental Agreement.
SWBAT identify the requirements to rent an apartment.
SWBAT explain what is included in a rental agreement.
SWBAT analyze a rental contact.
SWBAT describe what should be considered when selecting a place to rent.
Check off each item as we complete it
DO NOW
Mini Lesson
Activity 1 (guided practice)
Activity 2 & 3(independent Practice)
Exit Ticket
DO NOW
Have you ever considered finding a place of your own? How much do you think it costs to rent an
apartment or house in your hood?
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What are some of the expenses to budget for when living on your own?
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Mini Lesson
Living on Your Own Renting an Apartment
What is a TENANT and a LANDLORD?
Tenant - The person that rents a room, apartment, or house.
Landlord - The person that owns a room, apartment, or house and rents it to a person.
What is required to rent an apartment or room?
In order to rent a place, the landlord will most likely request :
• Identification
• References = A reference is someone that can vouch that you are responsible.
• Permission to run a credit check = Credit check looks at your credit history to see if you
have been responsible paying bills and borrowing money.
• First month’s rent. (Sometimes a second month’s rent will be required as well . In some
states it is illegal foe landlord to request a second month’s rent)
• Security Deposit
STOP AND JOT
What is a SECURITY DEPOSIT? Why would someone not get their security deposit back?
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It is very important to make sure to read the contract carefully before signing it. If you need to
have someone look over the contract for you to help you understand it, then it is important to
do so. Don’t be rushed into signing a rental agreement, wait until you fully understand it,
including the fine print.
What is in a rental agreement?
Some of the key things in the contract are:
• the amount of rent to be paid each month
• when and whom the rent will be paid to
• the length of the rental agreement
• who pays for electricity and water
• the rules you must follow
• when and how you need to give notice if you decide to move
• the repair policy
• what appliances come with the apartment
• if pets are allowed on the premise
What happens if you don’t follow the contact?
• you may be required to vacate the apartment
• and be responsible for any costs caused by early termination or related damages
Selecting the Right Apartment
When it is time to look for a place of your own, it will be important to think about three
things before selecting a place:
1) how much rent you can afford to pay
2) the location of the place
3) the type of place you need
4)
How much rent you can afford to pay “Affordability”
In order to make sure you can afford a place, financial experts recommended that the amount
of rent you pay should not be more than 30% of your take home pay.
For example, if you bring home $3,000 after paying taxes, you could reasonably afford
$1,000 a month in rent
Location, Location, Location
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It is a good idea to be close to your job.
If you can’t afford to be close to work or there is no housing close by, then it is important
to make sure you are close to a transportation system that can get you to your job easily
and quickly.
It is also important that you select a place that feels safe. Your safety should be a top
concern when selecting a place.
The type of place you need.
It is important to decide on what type of place you really need and not on what you necessarily
want.
Some sacrifices may need to be made in order for you to find a place that is affordable and safe.
For instance, instead of renting a one-bedroom apartment it may be wise to a rent a
studio, a room, or to have roommates.